New Delhi: Mukesh Ambani-promoted Reliance Retail has spent close to Rs 1,000 crore in two days acquiring commercial properties in the Capital, taking its mega retail plans to a new level.
Just a day after it acquired seven properties worth Rs 700 crore in Dwarka and Rohini in West Delhi, Reliance Retail on Tuesday bought a property in Vikaspuri in West Delhi valued at around Rs 280 crore.
Sources said the total space size of Tuesday’s acquisition is over five lakh square feet.
The company would be taking part in another bid on Wednesday for two properties at Vasant Kunj in South Delhi, said to be worth approximately Rs 25 crore.
The properties bought by Reliance Retail were a part of auctions held by the Delhi Development Authority (DDA), which had auctioned 16 commercial plots totalling around 40,000 square metre.
Last year, Mukesh Ambani had unveiled mega plans for expansion in the retail space entailing an investment of Rs 25,000 crore in the next few years.
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